Ustach, a business administration major, said in the article that the most useful lesson he learned at Elon was the importance of planning, something he learned when he launched Elon Laundry thanks to a $600 loan and a university-approved business plan.

“Getting that experience in college put me ahead of the game,” he is quoted as saying. “A lot of kids who may come from money feel like, ‘well, I’ve got $100,000 to start with, let’s get going,’ but that’s the worst thing you can do. You really have to look at all the outlying factors.”